$2.8-Million Buyback Authorized for K-Swiss

K-Swiss Inc. has authorized the repurchase of up to $2.8 million worth of its stock as part of a buyback program.

The Chatsworth-based sneaker company said the purchases of its Class A common stock would occur between now and December. The company’s Class A stock has been trading recently in the $17-per-share range. Currently the company has 3.1 million shares of Class A stock outstanding.

Corporations typically launch stock buyback programs as a way to boost the value of their shares.